QCP: Bitcoin May Consolidate Short-Term After Dropping Below $78,000

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BlockBeats News, May 18th, the latest QCP market report pointed out that BTC has fallen below $78,000. Previously, the consolidation around $80,000 was primarily supported by options positions. With over $4 billion IBIT options expiring last Friday, the at-the-money Gamma support held by market makers weakened, leading to a decrease in the mechanical support of the spot price.

Meanwhile, U.S. stocks retreated from their highs, with the U.S. 10-year and 30-year Treasury bond yields rising to 4.62% and 5.14% respectively. USD/JPY approached 160, raising intervention risk and yen carry trade unwinding risk. The crypto market is likely to remain in a range-bound state until there is clear progress on tariffs or U.S.-Iran negotiations.

Sumber: BlockBeats

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Kabar TerkaitSelengkapnya

Net inflows for six consecutive weeks come to an end as digital asset investment products saw a net outflow of $1.07 billion last week.

Strategy increased its Bitcoin holdings last week by 24,869 coins, at an average price of approximately $80,985 per coin.

Standard Chartered: The scale of on-chain tokenized assets is expected to reach $40 trillion by the end of 2028, with DeFi protocols emerging as the primary beneficiaries.

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